Presentation Speech by Professor Bertil Näslund of the Translation of the Swedish text Your Majesties, Your Royal Highness, Ladies and Gentlemen, A market economy is a gigantic system which communicates information about the production costs of enterprises and consumer preferences. Sometimes, however, information is unevenly distributed among decision-makers. A bank which lends money to a…

Presentation Speech by Professor Lars E.O. Svensson of the Translation of the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Robert Lucas is the social scientist who has had the greatest influence on macroeconomic research since 1970. The main objective of macroeconomic research is to study fluctuations in total production, employment and inflation.…

Presentation Speech by Professor Karl-Göran Mäler of the Translation of the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Many situations in society, from everyday life to high-level politics, are characterized by what economists call strategic interactions. When there is strategic interaction, the outcome for one agent depends not only on what that…

Presentation Speech by Professor Lennart Jörberg of the Translation of the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Robert Fogel and Douglass North have been awarded this year’s Prize in Economics for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional…

Presentation Speech by Professor Assar Lindbeck of the December 10, 1992. Translation of the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Gary Becker has made it his task to extend the analytical domain of what he calls “an economic approach” to various social issues. Now it is important to bear in mind…

Presentation Speech by Professor Lars Werin of the . Translation of the Swedish text. Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, The economic system has an institutional structure, which we often regard as self-evident because we observe it around us every day. But it is actually peculiar and intricate. For instance, people make agreements…

Presentation Speech by Professor Assar Lindbeck of the December 10, 1990. Translation of the Swedish text. Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Financial markets fulfill an important function in modern market economies. It is largely via such markets that savings in various sectors of a national economy are transferred to firms for investment…

Presentation Speech by Professor Bengt-Christer Ysander of the December 10, 1989 Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, This year’s laureate, Professor Trygve Haavelmo of the University of Oslo, has been awarded the Alfred Nobel Memorial Prize in Economic Science for his pioneering contributions to the development of econometrics,…

Presentation Speech by Professor Ingemar Ståhl of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, In 1943, during the dark years of German occupation, a remarkable work in economic theory was published in France. The title was A la Recherche d’une Discipline Economique and the author was a 32…

Presentation Speech by Professor Ingemar Ståhl of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, The Laureate of this year, James Buchanan of George Mason University, has been awarded the Prize for his development of the contractarian and constitutional foundations for the theory of economic and political decision-making. This…